COVID-19 Business Events Recovery & Rebound Framework

The Business Events industry has been one of the quiet achievers of the Australian economy – growing at around 6% annually since 2014, directly generating over $35 billion in economic activity in FY19 and employing over 229,000 people across a broad range of sectors and trades.[1] In FY2019, 43.7 million people attended more than 484,382 business events across Australia.[2]

Australia’s BE industry has rapidly shutdown with the escalation of government responses to COVID-19. The impact of the pandemic is being felt across the Australian economy with 96% of events scheduled for 2020 in Australia either cancelled or postponed.[3] The Australian BE industry is facing 100% loss of revenue with the total business lost over the next 12 months estimated at over $35 billion.[4]

Due to the escalating effects of COVID-19, on top of bushfires earlier this year, BECA has urgently been leading a coordinated approach engaging the Government – primarily through Austrade and Tourism Australia – and industry stakeholders to ensure support targets those areas most critical to the industry’s immediate needs, its sustainment and its successful recovery.

The COVID-19 Business Events Recovery and Rebound Framework aims to sustain the business events industry over the next 12 months and position it to rebound and grow effectively following the pandemic. A particular focus of the recovery has been on the extension of the Government’s JobKeeper arrangement. Without this support the business events industry will face financial ruin. Beyond September, the business events industry will not be in full recovery mode given the long lead times to plan and promote events and for revenue to start flowing again. Until new business events are being planned, booked and providing cashflow to businesses, the industry is largely unable to maintain its large workforce when unsupported. This leaves the industry unable to sustain its capacity to recover or to position itself for a rebound when market conditions improve. Demand for business events has completely dropped off and stimulating demand for future events requires a return of business confidence across the economy.

The framework identifies key challenges and solutions that guide the development of a targeted BE industry support package. The framework has been developed in line with the Government’s own principles for stimulus and industry support measures and has been divided into two phases.

Each phase contributes to our industry’s overarching response and recovery goal to support the wellbeing of our workforce and businesses through the crisis, and to emerge together, ready to take on the new world of business events.

Download the COVID-19 Response and Recovery Framework



About the Reports 

Lost Business Report: Impacts of COVID-19 on the Business Events Industry was produced in April 2020 by McCrindle and commissioned by BECA. The report is the collation of quantitative data gathered by BECA through an online survey and a spreadsheet that was completed by businesses working in the business events industry, conducted between 19 and 24 March 2020. The report also includes analysis of and further modelling based on data from Ernst & Young reports The Value of Business Events to Australia, February 2015, as well as the 2016 and 2019 High Level Updates.

Value of Business Events to Australia FY 2019 High-level Update, was produced by Ernst & Young (EY), 30 March 2020 and commissioned by BECA. This is a high-level update on the 2015 EY BECA Report, to estimate the value of business events to the Australian economy. The original report (2015 EY BECA Report) highlighted the importance of the business events industry to Australia, by estimating the economic contribution, value add and employment of the industry.

 


[1]Value of Business Events to Australia 2018/19, Ernst & Young, March 2020

[2]Value of Business Events to Australia 2018/19, Ernst & Young, March 2020

[3]Lost Business Report: Impacts of COVID-19 on the Business Events Industry, McCrindle, April 2020

[4]Lost Business Report: Impacts of COVID-19 on the Business Events Industry, McCrindle, April 2020

                             

Pre-Budget Submission
2020-21

BECA continues to call for targeted government support to drive confidence and build momentum for Australia’s business events industry.

In a pre-budget submission to the Assistant Treasurer based on the Recovery and Rebound Framework, BECA highlights a strategic industry, the devastating impact of the pandemic and the need for business confidence to position itself for a rebound when market conditions improve.

Download BECA's Pre-Budget Submission 2020-21



Joint letter to National Cabinet on the impact of internal border closures

BECA joined a coalition of peak industry bodies in a joint letter to National Cabinet on the impact of internal border closures on business confidence and certainty. 

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